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Google Backed Edtech Startup Adda247 Acquires PrepInsta

CIO Insider Team | Monday, 30 September, 2024
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According to reports, Google-backed ed-tech startup Adda247 has acquires PrepInsta, a placement preparation platform.

The contract marks Adda247's entry as an integrated provider of occupation-specific education and skills enhancement programs across the public and private sectors.

With this acquisition, the startup has acquired four other companies so far, including StudyIQ, a UPSC preparation platform in 2021, Veeksha, an augmented reality/virtual reality learning module platform in 2023, and Ekagrata, a certified public accountant (CA) exam preparation company this July The company has acquired Eduserv.

Bimaljeet Singh Bhasin, CEO of the skilling and higher education business at Adda247 says, “We were very focused on government jobs until about four months ago when we announced our foray into the skilling and higher education space to expand into private sector jobs. The overall narrative is that we want to be a fully integrated player, helping people prepare for jobs and acquire the necessary skills while working with enterprises to build talent across both the public and private sectors.”

Adda247’s user base also has many engineering students & freshers which will help us provide tech and digital skilling programs to Adda247’s more than 1.2mn paid users

The company identifies key sectors of the Skilling Initiative, including banking, financial services, insurance, and technology.

“Tech is the largest employer purely in terms of numbers and given our aspiration to be a significant player in job-related programs and offerings, technology as a sector makes a lot of sense for us to focus on. This is why PrepInsta is just one part of the larger initiative and ambition we have,” says Bimaljeet.

“Adda247’s user base also has many engineering students & freshers which will help us provide tech and digital skilling programs to Adda247’s more than 1.2mn paid users,” says Atulya Kaushik, cofounder, PrepInsta.

Adda247 raised $35 million in a financing round led by WestBridge Capital in 2022. Google and existing investors such as Info Edge Ventures and Asha Impact participated in the round. In total, the company raised $63 million.



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